Discover more from Beautiful Scoop
The Battle of The Billions (Pt. 3): Microsoft's Blocked Acquisition and Meta's Quarterly Loss
Thursday, April 27th, 2023
1. Elizabeth Holmes Pulls Another Rabbit Out of the Hat
Theranos founder Elizabeth Holmes will not be going to prison on April 27 to begin serving her 11-year sentence for fraud and conspiracy related to her blood-testing startup, Theranos. This comes after she asked the Ninth US Circuit Court of Appeals if she could remain free while her case is being appealed. The request has put her reporting date on hold while the court considers it, sparing her from the discomfort of a prison cell. Meanwhile, her former COO Ramesh “Sunny” Balwani's attempt to do the same was unsuccessful. It’s comical watching her scrape the bottom of the barrel for any way to avoid what she ultimately has coming.
One free subscription moves Holmes once inch closer to her prison cell.
2. Microsoft Shocked to Learn It Can't Have Everything
The UK antitrust regulator has blocked Microsoft's $69 billion acquisition of video game developer Activision Blizzard over concerns that it would stifle competition in cloud gaming. This deal would strengthen Microsoft’s position in the cloud gaming sector given Activision Blizzard is responsible for games including Call of Duty, World of Warcraft, Diablo and Overwatch. The deal has also been opposed by antitrust regulators in the US and the EU; however, Microsoft plans to appeal the UK's decision, because apparently having a 60-70% share of the global cloud gaming market just isn't enough for them.
3. Time for AT&T To Rethink “Fast. Reliable. Secure.” Slogan
Hackers have reportedly breached the email accounts of AT&T customers, using a vulnerability in the company's API to gain access to mail keys that enable them to reset passwords for more lucrative services. According to anonymous sources, the hackers have been targeting victims' cryptocurrency accounts, siphoning off large amounts of digital currency with ease. One hacker even claims to have infiltrated AT&T's internal employee database and VPN servers, a move that has left the company scrambling to update its security controls. In the meantime, AT&T has proactively required a password reset on some email accounts… so that’s a start we suppose.
4. A.I. and Metaverse Are Two Peas in a Bleeding-Out Pod
Mark Zuckerberg's Meta Platforms has beaten revenue expectations despite laying off over 10,000 employees this year. In a press conference, Zuckerberg announced that despite the buzz around A.I., the company is still committed to its metaverse vision, claiming that A.I. will work hand-in-hand with the metaverse. However, Meta's Reality Labs department for VR and AR has suffered a $4 billion loss this quarter. But fear not, as Zuckerberg stated that AR glasses development will be the foundation for the next generation of computing, thanks to its A.I.-centric operating system. Clearly, no one has learned from failed A.R. glasses like Google Glasses or Snapchat Spectacles.
5. VinFast Getting in the E.V. Game
Vietnamese E.V. manufacturer, VinFast, has managed to snag $2.5 billion in funding for future development with the help of founder Pham Nhat Vuong and parent company Vingroup. Unfortunately, the cash injection could lead to the postponement of VinFast's US listing, thanks to the not-so-great market conditions. Despite launching two years ago, shipments from the VinFast factory in Vietnam have been taking their sweet time, but the company still has its sights set on the US market, where it hopes to take on the big boys of the auto industry with its own car and battery plant.